Gender: Female 
Age: 45-54
Nationality: United Kingdom
Ethnicity: Black or African American 
Marital status: Divorced 
First language: English 
Religion: Christian 
Education: Graduate degree
Mother's education: Undergraduate degree
Father's education: Graduate degree
Self-assessed socioeconomic status (1-10): 6
Home: Rent 
Employment: Employed full time
Occupation: Skilled agricultural, forestry and fishery workers (those harvest, grow, breed, or produce a variety of animal husbandry products)
Mother's occupation: Manager or business owner (those who plan, direct, coordinate and evaluate the overall activities of enterprises, governments and other organizations)
Father's occupation: Professionals or highly skilled workers (those who increase the existing stock of knowledge or teach about it in a systematic manner, e.g. engineer, doctor, teacher, lawyer)
Hobbies: Use social media;Listen to classical music 
Devices used daily: Laptop 
NLP tools known: Grammar checker (i.e., correcting grammar mistakes);E-mail spam detection (i.e., automatically send spam e-mails to your Trash folder);Dialog technology (e.g. chatbots that communicate with you such as chatGPT) 
NLP tools used: Spell checker (i.e., correcting misspellings);Dialog technology (e.g. chatbots that communicate with you such as chatGPT) 
NLP tools they would find useful: Sentiment analysis (e.g. automatically detect if user reviews are positive or negative)Machine translation (e.g. translate Chinese or Russian into English, and vice versa) 
Frequency of LLM use: Every day
LLMs used: ChatGPT;GitHub Copilot;Google Gemini;Snapchat My AI 
LLM use cases: Coding;Writing (e.g., composing emails);Proofreading/Editing (e.g., grammar, spelling, structure improvements);Answering questions about general knowledge 
Contexts of LLM use: School/University 
Prompt 1: What is micro finance  ChatGPT said: ChatGPT Microfinance refers to financial services, such as small loans, savings accounts, insurance, and other financial products, offered to individuals or small businesses that lack access to traditional banking and financial systems. It is designed to help people with limited resources, especially in developing countries, improve their living standards, start or expand small businesses, and achieve financial stability.
Prompt 2: Define micro finance institution  ChatGPT said: ChatGPT A Microfinance Institution (MFI) is a financial organization that provides small loans, savings, insurance, and other financial services to low-income individuals or groups who typically lack access to traditional banking services. The primary goal of MFIs is to empower underserved populations, especially in developing regions, by supporting entrepreneurship, reducing poverty, and promoting financial inclusion.
Prompt 3: How can MFI ensure they do not contribute to over indebtedness among clients ChatGPT said: ChatGPT Microfinance Institutions (MFIs) can take several steps to ensure they do not contribute to over-indebtedness among their clients. These measures promote responsible lending, protect clients from financial distress, and maintain the institution’s long-term sustainability:
Prompt 4: List down any three economic shocks  ChatGPT said: ChatGPT Inflationary Pressure – Rapid increase in prices of goods and services, reducing purchasing power. Recession – Economic downturn leading to job losses, reduced income, and business closures. Natural Disasters – Events like droughts, floods, or pandemics causing economic disruption.
Prompt 5: Explain why would saccos be faced with higher demand for loans last year due to a mix of economic shocks ChatGPT said: ChatGPT SACCOs may have faced higher demand for loans last year due to various economic shocks that increased financial pressure on individuals and businesses. Key reasons include:  Inflation and Rising Cost of Living  Increased prices of goods and services forced individuals to seek loans to cover basic expenses and maintain their standard of living. Job Losses and Income Reductions  Economic downturns caused layoffs and salary cuts, pushing people to borrow from SACCOs to meet financial obligations. Business Struggles  Small businesses, often SACCO members, faced cash flow challenges due to supply chain disruptions, reduced demand, or increased operational costs. High Interest Rates in Banks  Banks may have raised interest rates, making SACCOs more attractive due to their typically lower rates. Natural Disasters or Crises  Events like droughts, floods, or pandemics heightened financial needs for emergency spending or rebuilding efforts. Increased Dependence on Credit  With savings depleted by economic shocks, many individuals relied on loans to fund education, healthcare, and other needs. SACCOs often serve as accessible and affordable sources of credit for their members, which explains the surge in loan demand during periods of economic stress.
Prompt 6: Why do you think saccos would report low deposits In contrast to banks  ChatGPT said: ChatGPT SACCOs (Savings and Credit Cooperative Organizations) often report lower deposits compared to banks due to the following reasons:  Limited Membership Base  SACCOs serve specific groups (e.g., employees, communities), limiting their reach, unlike banks, which cater to the general public. Narrow Product Offerings  SACCOs primarily focus on savings and credit, while banks provide diverse financial products like investments, current accounts, and insurance. Lower Public Awareness  SACCOs may lack the extensive marketing and branding resources banks use to attract customers. Trust and Perception Issues  SACCOs are often viewed as less stable or secure than banks, deterring large deposits. Regulatory Constraints  SACCOs operate under specific regulatory frameworks, which may limit their ability to offer competitive interest rates or services. Limited Technology and Accessibility  Many SACCOs lag behind banks in digital banking and branch networks, reducing convenience for depositors. Savings Patterns  SACCO members often use them for targeted savings and loans, withdrawing deposits frequently, unlike banks that hold more long-term funds. These factors collectively result in lower deposits for SACCOs compared to banks.
Prompt 7: Give reasons why it is a problem when loan disbursed is greater than members deposit  ChatGPT said: ChatGPT When loan disbursed exceeds members' deposits, it can create several financial and operational problems for an organization, especially in the context of cooperative societies, microfinance institutions, or banks. Here are the key reasons:  1. Liquidity Issues Risk of Cash Shortages: If more money is lent out than is available in deposits, the organization may face difficulties meeting withdrawal requests from members or fulfilling other financial obligations. Inability to Handle Emergencies: Limited cash reserves can leave the institution unable to respond to unexpected events, such as sudden withdrawals or operational costs. 2. Increased Borrowing Costs Dependence on External Borrowing: The organization may need to borrow externally to cover the gap, often at higher interest rates, increasing costs and reducing profitability. Interest Burden: Additional interest payments on borrowed funds may erode earnings and strain the financial health of the institution. 3. Erosion of Members' Confidence Perceived Instability: Members may lose trust in the organization if they perceive it as financially unstable, leading to decreased deposits and participation. Withdrawal Risk: Loss of confidence can trigger a run on deposits, exacerbating liquidity challenges. 4. Regulatory and Compliance Risks Violation of Prudential Ratios: Many regulatory bodies mandate specific ratios, such as deposit-to-loan ratios. Exceeding these limits can lead to penalties or sanctions. Supervisory Scrutiny: Non-compliance may attract increased oversight from regulators, adding administrative and operational burdens. 5. Increased Risk of Loan Defaults Overextension of Credit: Lending more than what is supported by deposits may result in risky loans to less creditworthy members, increasing the risk of defaults. Impaired Recovery: The organization may struggle to recover funds if a significant portion of loans becomes non-performing. 6. Impact on Sustainability and Growth Reduction in Reserve Funds: Excessive lending reduces the organization's ability to build reserves, which are crucial for long-term stability and growth. Limited Investment Opportunities: The institution may not have sufficient funds for productive investments or expansion projects. 7. Mismatch of Asset and Liability Maturity Short-Term Liabilities vs. Long-Term Loans: Deposits are typically short-term liabilities, while loans are often long-term assets. This mismatch can create cash flow problems. Conclusion To maintain financial health, institutions must carefully balance loan disbursement with available deposits. Establishing robust lending policies, monitoring liquidity, and adhering to regulatory requirements are essential to mitigate these risks.
Prompt 8: What is research methods  ChatGPT said: ChatGPT Research methods are systematic techniques, strategies, or approaches used to collect, analyze, and interpret data in order to answer research questions or test hypotheses. They are essential in academic, scientific, and applied research to ensure that findings are valid, reliable, and credible.  Types of Research Methods Qualitative Research Focus: Understanding concepts, experiences, or phenomena. Data Collection: Interviews, focus groups, observations, document analysis. Data Type: Non-numerical (text,
Prompt 9: State the roles of a secretary in a company  ChatGPT said: ChatGPT The roles of a company secretary are essential in ensuring that the company operates smoothly and complies with all legal and regulatory requirements. Here are the key roles:  Corporate Governance: Ensures the company adheres to corporate governance standards, legal regulations, and ethical practices, and provides advice to the board of directors on governance matters.  Legal Compliance: Ensures the company complies with all legal requirements, including filing annual returns, maintaining statutory registers, and keeping up with changes in corporate law.  Board Support: Organizes board meetings, prepares agendas, records minutes, and ensures that decisions made by the board are properly documented and implemented.  Liaison with Shareholders: Acts as a bridge between the company and its shareholders, managing shareholder communications, handling shareholder meetings, and ensuring the proper distribution of dividends.  Records Maintenance: Maintains important company records, such as the memorandum and articles of association, shareholder registers, and resolutions passed by the company.
Prompt 10: Define preference shares ChatGPT said: ChatGPT Preference shares are a type of share that provides shareholders with specific rights and privileges over ordinary shareholders. These rights often include:  Priority in Dividends: Holders of preference shares receive dividends before ordinary shareholders, usually at a fixed rate. Priority in Liquidation: In case of company liquidation, preference shareholders are paid before ordinary shareholders from the company’s remaining assets. Non-Voting Rights: Generally, preference shareholders do not have voting rights in the company, except in special circumstances like non-payment of dividends. Preference shares are often suitable for investors seeking stable returns with lower risk compared to ordinary shares.
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